The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-07-27
THE PEOPLES PENNIES.
How They Increase and Multiply in the
Hands Of the Savings Banks.
From the Nclo York Herald.

hllV busy one WIFI SdVlllSS DdilkS IN THIS
CITY. The accounts OF these institutions
have for some days been made up and semi
annual dividends declared. The thousands
of deposits of all nationalties, creeds and
color. have been for the past few DAYS
choking the passageways and lObbies of
these establishments and taxing the en-
ployes to their utmost limit.
As is well known, saving banks are estab-
lished with a view to enable the poor to find
naces in which small savings can be depoS-
tied on interest, and thus to offer induce
ments to make such savings There are no
authentic details regarding the founding of
fine first savings bank beyond the mere fact
that it was founded il Hamburg in IT'S
Berne. in Switzerland, followed in 1857, and
in that country, at Zurich, is the Oldest eX-
isting savings bank in Europe, which was
founded in 1905. Though Francis Maseres
in IN started the ball in England relative
IA savings banks, it was Jeremy Bentham
who gave it the kick which landed it on a
successful basis
The first savings bank in Ireland was es-
tablished at Stillorgan, county Dublin, in
March. 1915 In 1907 the Rev. John Muck
ersy established in Scotland the "West Cal
der Friendly Bank for the Savings of the
Poor" BY the end of 1916 there were
seventy-four savings banks in England and
Wales and four in Ireland. Similar sys-
TENS have been successfully introduced into
Australia and Canada.
TIE earliest savings bank established in
France was in Paris July 30, 1918; there
was one in Bordeaux in 1919, and one in
Marseilles i'll 1921. In the various States of
the German empire savings banks exist, one
having been founded in Berlin as early as
1918 In Austria the deposits of these
institutions amount to Sl19, 475, S24.
Throughout Europe the deposits in savings
banks are estimated at 81, S0,00G,000.
SAVINGS BANKS IN AMERICA.
In this country the first savings bank was
the philadelphia Saving Fund Society,""
suggested by Condy Racquet and organized
in 1916. 1t still exists in a fOurishing con-
dition, and ten years ago held deposits
amounting to SO 75, 752 50. The second
was established in Boston in the same year;
the third in this city in 1919.
The statistics of American banks, as near
as can be gathered, show that Maine has
gO.S9S depositors and 800, $50, 49S deposits;
New Hampshire, 92,501 and $50, PA $50;
Vermont, 1920 and 81, 75l, 002; Massachu-
sets. 702, 099 and S211 ,452, 120; Rhode Island,
93,l24 and SIG 6l7, 1914; Connecticut, POS, $40
and S72, POS, Oh; New York, the depositors
are over 1,00O,N00 and the deposits about
SG07, SIX, 90; New Jersey about 1000, 900,
and California 81, 933 depositorS and about
Sl44, 13S FOG deposits.
OF those savings banks which have begun
paYing their senli-annual interest, and there
are many of them, all show larger assets
and an increased number of depostors.
Though the depositors have increased the
individual deposits have not. Nevertheless,
the aggregated amount deposited has been
greatly augmented A diagnosis of the
financial condition of these Institutions is,
as a rule, taken as a true estimate OF the
prosperity of the people, and if this years
condition is to be taken as a criterion there
is no denying the fact that the great mass Of
the community 'are doing quite vel"
SCENES AT THE 'EMGRANT's.n
The panorama of life to be witnessed
daily during the paying OF interest at the
Emigrant Industrial Savings Bank is as
striking as it is interesting. Decrepit men
and women, with their pennies or dollars of
interest awaiting them, take their stand,
and, defying heat, hunger or fatigue, dis
cuss the weather, the evictions in Ireland or
the Implicitly of politicians, gradually move
along in line to where their money awaits
them. Handsome girls in summer attire
and cOquettiSh smiles break the monOtOny
Of the dull work.
The number of depositors at the Emf
grants Bank is 10000, an increase of 1,511
over that Of last year. The earnings of the
bank ending June 30, from interest on bond
and mortgage, stocks, daily bank balances,
foreclosed properties and revenue OF bank
ing house, Were, SSl9, S32 26. Only One-haf
of the depoSitors draw interest, while the
other half leave their earnings to capitalize.
The preponderance of women, especially of
the servant order, was quite noticeable.
There is no class of poor people i'll this city
so well off as the servant girls. This may
seem paradoXical, but when the TACT IS
taken into consideration that all the wants
of these people are supplied and their earn
ings capitalized the problem is easily solved.
No other class of people can do the same
thing, and it it is fair to say that ninety
nine out Of every 100 of these servant girls
do this.
DRAWING INTEREST AT "THE CITIZENS"
At the Citizens Savings Bank, corner of
Canal street and the Bowery, everything
was III hustle yesterday. There is proba-
bly, no savings bank which collects such
heterogeneous mass of humanity as the Clt-
liens. Its president, E. A. Quintard, looked
snilingly out yesterday upon the sea offaces
as they quietly waited their turn to draw
their semi-annual interest. The bank has
$1,000 depOsitors, 20 whom it owes $40, 49,
4f1,G5. Its assets amount to Sl1,624, 9O?.0l,
and its surplus to ST. 1915, 45436 Since the
beginning of the year is depositors have in
creased l,066, its liabilities to these SOB Si3,
IA, and its assets are greater by 500, IOO.23.
Yesterday the depositors were out in
force. Actors and artists brushed against
bakers and BARRIERS while barkeepefs and
blacksmiths nodded to one another. Brewers
and brokers were in the ranks, and so were
butchers and builders. Carpenters and
clergymen elbowed one another, as did also
conductors and compositors. Cooks, cloth
lers and coopers formed in line with editors
and publishers, engineers and engraverS,
hFcmen and florists, grinders and govern
esses, hotel keepers and housekeepers.
The monotony at this bank was broken
recently by one of those cranks who turn up
on every occasion. The war of traffic was
Gt It's height on the Bowery when
lean, lank, cadaverous looking woman
stepped up to the cashiers window and
said.
FOR THE ARMY OF THE LORD.
u want Il million dollars"
That's the case with n great many people,
madam, said the cashier.
1 want You to obey my orders without
comment, she said. "Give me the money
IN small bils.n
What is it TO be used forM
10 pay my ormy.n
w hat armyp
The army OF the Lord"
d, Never heard of il, >" said the cashier, and
then everybody snickered.
" ell, sir. | am waiting
Night inquire your name, merely as
matter Of form, madam" inquired the
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